Posts

Showing posts from November, 2020

LG Electronics

Image
LG Electronics Inc. (Korean:  LG 전자 ; RR:  LG Jeonja ) is a South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, South Korea. LG Electronics is part of the fourth-largest chaebol in South Korea (LG Corporation) and its global sales reached US$55.91 billion (₩ 59.04 trillion) in 2014. It comprises four business units: Home Entertainment, Mobile Communications, Home Appliances & Air Solutions and Vehicle Components, with Starion India as its main production vendor for refrigeration and washing machines in the Indian sub-continent. LG Electronics acquired Zenith in 1995 and controls 37.9 percent of LG Display as of 2013. Since 2008, LG Electronics remains the world's second-largest LCD television manufacturer. The company has 128 operations worldwide, employing 83,000 people.

History

Image
1958–1960s edit In 1958, LG Electronics was founded as GoldStar (Hangul: 금성 ). It was established in the aftermath of the Korean War to provide the rebuilding nation with domestically-produced consumer electronics and home appliances. The start of the country's national broadcasting that created a booming electronics market and a close relationship it quickly forged with Hitachi helped GoldStar to produce South Korea's first radios, TVs, refrigerators, washing machines and air conditioners. GoldStar was one of the LG groups with a brethren company, Lak-Hui (pronounced "Lucky") Chemical Industrial Corp. which is now LG Chem and LG Households. GoldStar merged with Lucky Chemical and LS Cable on 28 February 1995, changing the corporate name to Lucky-Goldstar and then finally to LG Electronics. 1970s–1990s edit LG Electronics earned US$100 million in revenue from exports for the first time in its history. Rapid growth by globalization saw the company establish its fir...

Products

Image
LG Electronics' products include televisions, home theater systems, refrigerators, washing machines, computer monitors, wearable devices, solar modules, smart appliances and smartphones. Televisions edit The LG SL9000 was one of several new Borderless HDTV's advertised for release at IFA Berlin in 2009. LG Electronics launched an OLED TV in 2013 and 65-inch and 77-inch sizes in 2014. LG Electronics introduced its first Internet TV in 2007, originally branded as "NetCast Entertainment Access" devices. They later renamed the 2011 Internet televisions to "LG Smart TV" when more interactive television features were added, that enable the audience to receive information from the Internet while watching conventional TV programming. In November 2013, a blogger discovered that some of LG's smart TVs silently collect filenames from attached USB storage devices and program viewing data, and transmit the information to LG's servers and LG-affiliated servers. Sh...

Marketing and public relations

Image
Sponsorships edit LG Sports Limited, a subsidiary of LG Corporation, owns the Korean Baseball Organisation (KBO) LG Twins (LG 트윈스). Through an acquisition in 1990, the MBC Blue Dragons (who was one of the six original founding members of the KBO in 1982) became the LG Twins. The team has won two Korean Series (1990 and 1994). LG attracts a large attendance of fans and to much of their enjoyment, took third place in the league. In August 2013, LG Electronics announced that it would sponsor German Bundesliga club Bayer 04 Leverkusen for the next three years with an option to extend for one more year. LG sponsors the International Cricket Council, the world governing body for cricket and also sponsors the ICC Awards. From 2009 to 2013, LG Electronics sponsored Formula One as a Global Partner and Technology Partner. LG was also an official supplier to Virgin Racing and Lotus Racing team, plus engine manufacturer Cosworth from 2010 to 2012. LG also sponsors London Fashion Week and the LG Ar...

Environmental record

Image
Choice magazine, in independent tests of popular LG fridge models in 2010, found the energy consumption in two models was higher than claimed by LG. LG was aware of the problem and had offered compensation to affected customers. In 2004, LG made 4A-rated water efficiency claims for numerous washing machines before they were certified. LG gave undertakings to the Australian Competition and Consumer Commission (ACCC) to provide appropriate corrective notices and upgrade and maintain its trade practices compliance program. In 2006, LG overstated energy efficiency on five of its air conditioner models and was again required to offer consumers rebates to cover the extra energy costs. In March 2018, it was announced that one of LG steam clothing care system earned the Asthma and Allergy Friendly Certification. In May 2020, a deadly gas leak in LG chemical plant in Visakhapatnam killed 12 people. An investigation was set up to look upon the matter revealed many causes for the accident. Improp...

United States headquarters

Image
LG Electronics USA had proposed to build a new headquarters in the borough of Englewood Cliffs in Bergen County, New Jersey, including a 143 ft (44 m) tall building that would stand taller than the tree line of the Hudson Palisades, a US National Natural Landmark. The company proposed to build an environmentally friendly facility in Englewood Cliffs, incidental to Bergen County's per-capita leading Korean American population, having received an initially favorable legal decision concerning building height issues. The plan, while approved by the local government, met with resistance from the segments of the general public as well as government officials in New Jersey and adjacent New York. The initial court decision upholding the local government approval was overturned by a New Jersey appellate court in 2015 and LG subsequently submitted a revised, scaled-down, 64-foot building for approval by the borough of Englewood Cliffs in 2016. LG broke ground on the new US$300 million Englew...

Slogans

"We Put People First" (1997–1999) "Digitally Yours" (1999–2004) "A Better Life with Digital" (2002–2004) "Life's Good" (1999–present in Australia and 2004–present in the rest of the world) "Innovation for a Better Life" (2016–present)